Affordable Home Calculator from CNNMoney

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** How much house can you afford? **

*Tell us how much you make, how much you've got for a downpayment, and your
debt, and find out how far to stretch when home hunting.*

*HOME AFFORDABILITY*
About this calculator:



• To arrive at an "affordable" home price, we followed the guidelines of
most lenders. We've allowed a total debt-to-income ratio of no more than 36
percent. And we have assumed a housing payment-to-income ratio of 28% for
our conservative estimate, and 33 percent for the aggressive one. Before
buying, however, you should also factor in other savings needs, including
retirement and college.


• *ASSUMPTIONS:* We've assumed a 30-year mortgage term, annual property
tax of $3,500 and homeowners insurance of $481 -- the national average. And
we do not factor in private mortgage insurance, which you'll owe if your
downpayment is less than 20 percent of the purchase price. It averages from
$50 to $80 per month. Plug in your own numbers for more tailor-made
results.



Related stories
• Buying a home 101

• Lining up cash

• The hunt for a home

• Closing the deal

• Does it pay to remodel?




HOME More real estate tools


• Mortgage payment estimator

• Renovation wizard

• Cost of living estimator




Enter income/mortgage info


Gross annual income: $ 

Downpayment amount: $ 
Monthly debt:
(eg. student loan, credit card payments) $ 
Mortgage rate:  %
Annual property taxes: $ 
Annual homeowner insurance: $ 
CALCULATE  


RESULTS


  CONSERVATIVE AGGRESSIVE
Minimum house
price: $ 
Loan amount: $ 
Monthly mortgage
payment:


Source: cgi.money.cnn.com/tools/houseafford/houseafford.html


can i afford a house


How much house can I afford? - Calculator - MSN Money

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Source: money.msn.com/home-loans/home-buying-calculator

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